Sports Direct adds LA Fitness sites to its portfolio
Retailer complements its offering with presence in health and fitness club market
Newcastle United football club owner Mike Ashley's sports retailer Sports Direct adds 13 clubs from LA Fitness to its portfolio. The sale comes along with a Company Voluntary Agreement of LA Fitness with its landlords in order to reduce the company's debts. All acquired clubs shall be rebranded to SportsDirectFitness.com. Furthermore, Sports Direct plans to open three in-store gyms in the course of this year.
According to press information, also the retailer's rival JD Sports has announced recently to convert one of its stores into a site combining retail with a two-floor gym. Competitor DW Fitness has integrated retail stores with its fitness facilities as well. Fifty-two of DW Fitness' locations had been acquired from JJB Sports Fitness Clubs in 2009 and formed the foundation of the operator.
Source: press information, edelhelfer-analysis